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Forex: NZD/USD falls to fresh 2-week low

FXstreet.com (Córdoba) - The New Zealand dollar weakened on Tuesday and fell to a 2-week low against the greenback, under influence of AUD/USD losses, which were triggered by the RBA rate cut.

NZD/USD accelerated losses at the beginning of the NY session after breaking below the 0.8450 level, and stretched to a low of 0.8435 before finding support. At tiem of writing, NZD/USD is trading around 0.8445, recording a 0.8% daily loss.

As for technical levels, if the kiwi falls below 0.8435/30, next support levels could be found at 0.8400 (psychological level) and 0.8375 (100-day SMA). On the other hand, resistances in case of bounces are now seen at 0.8475 (low May 3), 0.8500 (psychological level and 21-day SMA) and 0.8522 (high May 7).

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